The Ministry shall have the following powers and functions:

• Formulate medium-term expenditure and annual plans covering the Bangsamoro Government’s resources mobilization efforts, in coordination with other concerned ministries and offices, and supervise the implementation of such plans;
• Undertake the formulation of the annual budget of the Bangsamoro Government;
• Formulate, institutionalize and administer fiscal and tax policies;
• Supervise, direct, manage, and control the collection of Bangsamoro Government revenues;
• Act as custodian of, and manage all financial resources of Bangsamoro Government;
• Manage public debt;
• Review and coordinate the policies, plans and programs of Bangsamoro Government financial institutions and, thereafter, recommend to them courses of action consistent with the Bangsamoro government fiscal policies, plans and programs;
• Review and coordinate policies, plans and programs of Government Owned and Controlled Corporations (GOCCs) in the BARMM, and, thereafter, recommend to them courses of action consistent with the Bangsamoro Government’s fiscal policies, plans and programs;
• Ensure the implementation of policies and measures on local revenue administration;
• Coordinate with other Bangsamoro Ministries and Offices on matters concerning fiscal and monetary policies, credit, economic development, international finance, trade and investment;
• Develop and administer standard accounting system essential to fiscal management and control;
• Conduct a continuing study of the bureaucracy and assess as well as make policy recommendation on its role, size, composition, structure and functions;
• Establish rules and procedures for the management of government organization resources, formulate standards or organizational program performance, and undertake services in work simplification or streamlining of systems and procedures to improve efficiency and effectiveness in government operations;
• Conceptualize and administer the Bangsamoro Government’s compensation and position classification consistent with national standards; and
• Perform such other powers and functions as may be assigned by the Minister.